As a small business owner, you may know you need business insurance, but that term covers a wide variety of policy types. According to the insurance experts at Mutual Underwriters, an established agency with locations throughout Hawaii, the best policy for you depends on a variety of factors, starting with the type of operation you run and the industry you're in.

While there is some variation, most organizations will need business coverage that includes:

• Liability Insurance: This type of insurance will pay for any claims filed against you, whether they come from another company or a customer claiming they were injured by your product. These lawsuits can be extremely expensive to defend against, to the point where many businesses are forced to close even if they win. Your liability insurance will pay any damages awarded to the plaintiff as well as your legal expenses.
• Business Interruption Insurance: Even if you have insurance to pay for damage to your property, the income lost while undergoing repairs can be devastating. Business interruption coverage will compensate you for that lost income, ensuring you'll be able to open back up when the repairs are completed.
• Property Insurance: A significant portion of your financial investments could be tied up in your corporate assets, like expensive equipment or commercial facilities. If your property is stolen or your store is damaged by a fire, you'll need property insurance to compensate you for any damages, including your lost inventory and other considerations.

Knowing what type of business insurance you need is not always straightforward, but the experienced professionals at Mutual Underwriters will carefully evaluate your situation to determine which policy is best for you. Call (808) 532-2888 today to contact their Honolulu office, or visit their website to find the location nearest you and read more about their decades of service to the Hawaii community.